股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: HTSC（於中華人民共和國註冊成立，中文公司名稱為华泰证券股份有限公司及在香港以HTSC名義開展業務）(「本公司」) 呈交日期: 2026年1月6日 第 1 頁 共 11 頁 v 1.1.1 FF301 FF301 本公司乃於中華人民共和國註冊成立的股份有限公司，中文公司名稱為华泰证券股份有限公司，在香港以HTSC名義開展業務。因此，「法定/註冊股本」之概念不適用於本公司。在上述第I部顯示 「法定/註冊股本」的資料是指本公司的「已發行股本」。 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601688 | 說明 | | 於上海證券交易所 （「上交所」）上市之A股 | | | | | | | | 法定/註冊股份數 ...

Core Viewpoint - Huatai Securities report indicates that New Hope Liuhe is a leading global enterprise in nutrition and flavoring, with sales of methionine, vitamins, and PPS ranking among the top five globally, showcasing integrated, scaled, and technological advantages [1] Group 1: Company Overview - New Hope Liuhe is positioned in emerging demands for human and animal nutrition, flavoring, and specialty engineering materials, establishing a solid technological foundation [1] - The company is entering a new growth cycle, driven by the increasing global market share of methionine and flavoring products, as well as breakthroughs in biomanufacturing and new materials [1] Group 2: Market Analysis - The market has overly focused on the cyclical fluctuations of vitamins, neglecting the growth potential of methionine and flavoring products, as well as the company's global competitive advantages and the investment value of emerging business growth [1] Group 3: Financial Projections - The profit forecast for 2025-2027 has been slightly adjusted upwards, reflecting the continued growth in methionine and flavoring products, with the target price raised to 38.24 yuan, representing a 49% increase, and the rating upgraded to "Buy" [1]

Core Viewpoint - The bond market continues to show weakness, with government bond futures declining and interbank bond yields rising, influenced by fiscal policies and market dynamics [1][2]. Market Performance - Government bond futures closed lower across the board, with the 30-year main contract down 0.31% to 110.93, the 10-year down 0.13% to 107.7, and the 5-year down 0.11% to 105.57 [2]. - Interbank bond yields increased significantly, with the 10-year China Development Bank bond yield rising by 2.5 basis points to 1.975% and the 10-year government bond yield increasing by 2.1 basis points to 1.8825% [2]. Overseas Market Trends - In North America, U.S. Treasury yields fell across the board, with the 10-year yield down 3.14 basis points to 4.159% [3]. - In Asia, Japanese bond yields mostly rose, with the 10-year yield up 1.1 basis points to 2.131% [3]. - In the Eurozone, yields on 10-year bonds from France, Germany, Italy, and Spain all decreased, indicating a general trend of falling yields in the region [3]. Primary Market Activity - The Ministry of Finance's recent bond auctions saw yields lower than market estimates, with the weighted average yields for 28-day, 63-day, and 182-day bonds at 1.0698%, 1.1552%, and 1.2573% respectively [4]. - Agricultural Development Bank's financial bonds also showed competitive bidding, with a 91-day yield of 1.5199% and a 5-year yield of 1.7782% [4]. Liquidity Conditions - The central bank conducted a 162 billion yuan reverse repo operation at a rate of 1.40%, resulting in a net liquidity withdrawal of 2963 billion yuan for the day [5]. - Short-term Shibor rates mostly declined, with the overnight rate down 0.1 basis points to 1.263% [5]. Institutional Perspectives - Citic Securities suggests that the new fund sales regulations may have a limited negative impact on the bond market, with potential trading opportunities arising from reduced redemption risks [7]. - Huatai Fixed Income notes that while the absolute level of interest rates is better than last year, the market may experience slight trading opportunities in the short term, but a more prolonged weakness is anticipated [7].

而作为"牛市旗手"的券商股涨幅更加明显，中证全指证券公司指数半日大涨3.36%，报897.73点。成份股方面，49只个股悉数涨超1%。其中，华林证券涨 停，华安证券涨9.7%，东北证券、财达证券、长江证券、华泰证券也涨超5%。 北京商报讯（记者 刘宇阳）1月6日，A股大盘指数继续上扬。同花顺数据显示，上证指数盘中一度涨至4069.91点，续创近10年新高。截至上午收盘，上证 指数上涨1.14%，报4069.38点。同期，深证成指也涨0.81%，报13940.24点。 ...

Market Performance - The Shanghai Composite Index rose by 1.14% to 4069.38 points, reaching a new high in over 10 years [1] - The Shenzhen Component Index increased by 0.81% to 13940.24 points, while the ChiNext Index fell by 0.04% to 3293.18 points [1] - The total trading volume in the Shanghai and Shenzhen markets was 178.13 billion yuan, with over 3600 stocks rising [1] Sector Performance - The leading sectors included brain-computer interfaces, chemical engineering, non-ferrous metals, insurance, securities, semiconductors, and photovoltaic equipment [2][3] - The non-ferrous metals sector saw a significant increase of 4.05%, while non-bank financials and oil & petrochemicals rose by 3.27% and 2.95%, respectively [3] - The brain-computer interface sector experienced a surge, with multiple stocks hitting the daily limit [3] Institutional Insights - Huatai Securities anticipates a strengthening spring market, recommending investments in growth sectors such as electric equipment and renewable energy, as well as domestic demand improvement themes [4] - CITIC Securities suggests that the cross-year market will exhibit characteristics of "growth leading and liquor accumulating," with a focus on sectors like snacks and dairy [5] - Guoxin Securities predicts that 2026 will be a significant year for the market, supported by favorable macro policies and improving corporate earnings [6] Emerging Opportunities - Guoxin Securities highlights the potential for 2026 to be the year of reusable commercial rockets, driven by the need for cost-effective launch solutions [7] - Tianfeng Securities expresses optimism about the growth potential in high-end consumer sectors such as cosmetics, gold jewelry, and duty-free shopping [8]

Group 1 - The securities sector experienced a significant surge, with Huayin Securities hitting the daily limit, and Huazheng Securities rising nearly 9% [3] - The A-share market showed positive momentum, with the Shanghai Composite Index breaking through the high point of November 14, 2025, reaching its highest level since July 2015 [1] - The Hong Kong stock market also saw gains, with the Hang Seng Index and Hang Seng Tech Index both rising, and notable stocks like Pop Mart and China Hongqiao increasing by over 3% [5][6] Group 2 - The solid-state battery concept saw a notable rise, with Jinlongyu hitting the daily limit, and several other companies following suit [7] - The chemical sector showed strength, particularly in the salt chemical direction, with companies like Zhongtai Chemical and Luhua Technology reaching the daily limit [11] - The semiconductor equipment sector continued to perform well, with Jinhai Tong hitting the daily limit and other companies like Jingyi Equipment and Zhongwei Company showing significant gains [12]

资料显示，华泰证券股份有限公司位于江苏省南京市江东中路228号,香港皇后大道中99号中环中心62 楼，成立日期1991年4月9日，上市日期2010年2月26日，公司主营业务涉及包括财富管理业务、机构服 务业务、投资管理业务和国际业务。主营业务收入构成为：财富管理业务43.24%，机构服务业务 19.75%，国际业务14.23%，投资管理业务11.89%，其他(补充)10.89%。 从基金十大重仓股角度 1月6日，华泰证券涨5.01%，截至发稿，报25.57元/股，成交20.65亿元，换手率1.13%，总市值2308.17 亿元。 截至发稿，袁忠伟累计任职时间10年248天，现任基金资产总规模9497.86万元，任职期间最佳基金回报 38.61%， 任职期间最差基金回报-36.1%。 张锡莹累计任职时间1年239天，现任基金资产总规模1.08亿元，任职期间最佳基金回报95.81%， 任职 期间最差基金回报3.16%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑 ...

| 名称 | 现价 涨跌 涨跌幅▼ | | --- | --- | | 华林证券 | 17.84 1.62 9.99% | | 华安证券 | 7.58 0.67 9.70% | | 东北证券 | 9.92 0.51 5.42% | | 圆刺湖园 | 21.82 0.89 4.25% | | 财达证券 | 7.01 0.28 4.16% | | 华泰证券 | 25.26 0.91 3.74% | | 东方财富 | 24.60 0.85 3.58% | | 国联民生 | 10.15 0.31 3.15% | | 天风证券 | 4.34 0.13 3.09% | | 长江证券 | 8.54 0.25 3.02% | 开源证券研报分析称，监管政策进入"积极"周期，券商投行、公募基金和海外业务有望接棒传统业务， 支持证券行业2026年盈利景气度，当下券商板块估值和机构持仓仍在低位，过往一年整体滞涨，看好券 商板块开年布局机会，短期看业绩预告和政策端有望带来催化。 华龙证券认为，市场慢牛预期下，券商权益资产配置比例持续上升，叠加指数化投资与公募基金代销能 力增强，财富管理业务迎来结构性机遇。监管导向从规模扩张转向效率与回 ...

盘面上，能源金属、医药商业、贵金属、有色金属、人脑工程概念等板块开盘活跃；船舶制造、航空航 天、玻璃玻纤、石油、燃气等板块开盘走低。 证券板块持续拉升，华林证券涨停，华安证券涨近9%，国泰海通、华泰证券、东北证券跟涨。 券商股集体爆发，其中华林证券直线拉升涨停。 1月6日早盘，A股三大指数开盘涨跌不一。截至发稿，三大指数全线飘红。上证指数持续走强，突破 2025年11月14日的阶段高点，刷新2015年7月底以来的新高。科创50指数涨超2%。 | 名称 | 序号 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 上证指数 | 1 | 4052.29 | 28.87 | 0.72% | | 深证成指 | 2 | 13918.96 | 90.33 | 0.65% | | 科创综指 | 3 | 1716.13 | 20.29 | 1.20% | | 万得全A | ব | 6595.03 | 57.09 | 0.87% | | 创业板指 | 5 | 3298.58 | 4.03 | 0.12% | | 北证50 | 6 | 1478.81 | 12.39 | 0.8 ...

证券板块持续拉升，华林证券涨停，华安证券涨超6%，国泰海通、华泰证券、东北证券跟涨。 ...